3) (5 points) Companies X and Z have the same beginning-of-the-year book value of equity and the same tax rate. The companies have identical transactions throughout the year and report all transactions similarly except for one. Both companies acquire a 250,000 printer with a three-year useful life and a salvage value of 0 on January 1 of the new year. Company X capitalizes the printer and depreciates it on a straight-line basis, and Company Z expenses the printer. The following year-end information is gathered for Company X. Company X As of December 31 Ending shareholders' equity 10,000,000 Tax rate Dividends Net income 33% 0.00 660,000 Based on the information given, what is Company Z's return on equity using year-end data?